Lockheed Martin Corporation and AeroVironment, Inc. to Pursue Joint Opportunities in Unmanned Aircraft Systems Markets

February 07, 2014

Lockheed Martin Corporation and AeroVironment, Inc. to Pursue Joint Opportunities in Unmanned Aircraft Systems Markets

  • Companies sign memorandum of understanding to explore opportunities for unmanned aircraft systems in international markets
  • Primary focus relates to integrating Lockheed Martin mission systems, ground systems and technology with AeroVironment's Global Observer® unmanned aircraft system

NEW DELHI, at Defense Expo, Feb. 7, 2014 – AeroVironment, Inc. (NASDAQ:AVAV), a leader in unmanned aircraft system solutions, and the Lockheed Martin Corporation (NYSE:LMT), one of the world’s largest aerospace companies and a leading systems integrator, today announced an agreement to jointly pursue opportunities in unmanned aircraft system (UAS) development.

“At Lockheed Martin, we look forward to partnering with AeroVironment to potentially develop integrated solutions for the unmanned systems market,” said Paul Lemmo, Lockheed Martin senior vice president, corporate strategy and business development. “Using our expertise in systems integration and AeroVironment’s knowledge of unmanned aircraft solutions, we will together look for opportunities to develop innovative technologies that create value for new and existing customers.”

“Numerous customers are seeking persistent solutions for wide area applications, such as border surveillance and communications, that are much more affordable than those available previously," said Roy Minson, AeroVironment senior vice president and general manager of its Unmanned Aircraft Systems business segment. "Lockheed Martin’s broad systems integration expertise gives us the opportunity to work together and develop innovative, end-to-end atmospheric satellite systems built around Global Observer that deliver breakthrough capabilities to customers.”


About AeroVironment, Inc. (AV)

AeroVironment (NASDAQ: AVAV) provides customers with more actionable intelligence so they can proceed with certainty. Based in California, AeroVironment is a global leader in unmanned aircraft systems and tactical missile systems, and serves militaries, government agencies, businesses and consumers. For more information visit www.avinc.com.


Safe Harbor Statement

Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.


E-mail Facebook Twitter Share
Additional AV News: click here
AV Media Gallery: click here


Contact:
AeroVironment, Inc.
Steven Gitlin
+1 (626) 357-9983
.(JavaScript must be enabled to view this email address)

Mark Boyer
For AeroVironment, Inc.
+1 (310) 229-5956
.(JavaScript must be enabled to view this email address)